The RBA drew attention to money market rates in its latest statement
Here is the added text to the statement:
Financial conditions generally remain expansionary. There has, however, been some tightening of conditions in US dollar short-term money markets, with US dollar short-term interest rates increasing for reasons other than the increase in the federal funds rate. This has flowed through to higher short-term interest rates in a few other countries, including Australia.
In times like these, a press conference by the governor would be useful in clarifying what they actually think about the implications from a rise in higher short-term rates. The only thing we can go by it seems is that they believe that despite such conditions, “financial conditions remain expansionary”.
That suggests that growth isn’t significantly impacted by that. Nonetheless, it doesn’t provide major market implications but it’d be nice to know what the RBA’s reasoning is by commenting on such things.